Outbound investment of Chinese companies grew steadily in 2022, with more than 70 per cent maintaining or expanding investment abroad, according to a survey released on Wednesday (February 22).

More than 80 per cent of the surveyed firms are optimistic about the prospects of overseas investment, according to the survey conducted by the China Council for the Promotion of International Trade.

MANUFACTURING SECTOR TOPPED INVESTMENT LIST

The survey found that about 90 per cent of the companies favour investment opportunities in member countries of the Regional Comprehensive Economic Partnership.

In terms of industry, the manufacturing sector topped the surveyed companies’ investment list, the report revealed.

Nearly 60 per cent of the surveyed companies invested overseas to explore market opportunities. About 35.9 per cent expanded abroad to reduce production and operation costs, and 32.9 per cent to enhance international recognition of their brands, according to the survey.